FIBA Basketball Champions League CEO Patrick Comninos is raising the overall prize money for the overall winner to €1million in an attempt to make the competition more attractive.
However, the runner-up will receive around €300,000, an increase on this season’s mark of €100,000, a number that all participating teams that made the regular season got.
“This year the sum of 100.000 euros is given to the clubs that have played in the regular season and the winner wins a total of 500.000,” Comninos said in an interview for French website Basket Europe.
“For the other participant this amount is decreased. For example the finalist wins a little less than 300.000 and so on.”
Comninos continued: “Next season we’re going to make a slightly different redistribution. We start from the fact that the winner will earn €1million. What we are going to do is rebalancing a large part of the budget that was dedicated to the clubs that made it to the regular season, towards the teams that advance forward.”
Like this season, all teams will be covered for travel and accommodation plus all referees and officials will be reimbursed as well.
This season’s inaugural season of the Champions League has run smoothly with its Final Four set to take place from April 28-30. The tournament is hosted by Tenerife with AS Monaco, BK Banvit and Venezia involved.
But despite the success in its first season, FIBA’s flagship competition is still seen as European club basketball’s third tier event alongside the independently owned EuroCup and EuroLeague competitions.